Musicland Holding Corp., a leading entertainment retailer, announced that Jack Chadsey has been named chairman & chief executive officer. Chadsey, 57, takes the helm of the $1.2 billion, 900-store chain, as it is poised to launch the entertainment retail store of the future.

"This is an exciting and challenging time to be part of the entertainment industry," Chadsey said. "I'm looking forward to leading Musicland as CEO while executing the new business strategies developed by the management team and key vendors."